Wellington Management Group LLP Buys New Position in Northpointe Bancshares, Inc. $NPB

Key Points

• Wellington Management Group LLP acquired 3,291,842 shares of Northpointe Bancshares, valued at approximately $47.5 million, representing about 10.85% of the company's stock.
• Northpointe Bancshares announced a quarterly dividend of $0.025 per share, resulting in an annualized yield of 0.6%.
• Analysts have set a consensus target price of $17.75 for Northpointe Bancshares, with Piper Sandler recently increasing their price target from $16.50 to $17.50 and rating the stock as "overweight."

Wellington Management Group LLP acquired a new position in shares of Northpointe Bancshares, Inc. (NYSE:NPB - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,291,842 shares of the company's stock, valued at approximately $47,534,000. Wellington Management Group LLP owned about 10.85% of Northpointe Bancshares at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NPB. American Century Companies Inc. bought a new position in Northpointe Bancshares during the 1st quarter worth $7,081,000. Russell Investments Group Ltd. bought a new position in Northpointe Bancshares during the 1st quarter worth $2,055,000. Persistent Asset Partners Ltd bought a new position in Northpointe Bancshares during the 1st quarter worth $941,000. Charles Schwab Investment Management Inc. bought a new position in Northpointe Bancshares during the 1st quarter worth $829,000. Finally, Boston Partners bought a new position in Northpointe Bancshares during the 1st quarter worth $454,000.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NPB shares. Janney Montgomery Scott assumed coverage on Northpointe Bancshares in a research note on Thursday. They set a "neutral" rating and a $19.25 price objective for the company. Piper Sandler increased their price target on Northpointe Bancshares from $16.50 to $17.50 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $18.25.

Northpointe Bancshares Trading Up 0.1%

Shares of NYSE:NPB traded up $0.01 on Friday, hitting $17.71. The company's stock had a trading volume of 47,389 shares, compared to its average volume of 141,591. Northpointe Bancshares, Inc. has a 12 month low of $11.43 and a 12 month high of $17.94. The company's 50-day moving average price is $15.14. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.32 and a current ratio of 1.39.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. The firm had revenue of $58.96 million for the quarter, compared to the consensus estimate of $56.92 million.

Northpointe Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 4th. Investors of record on Tuesday, July 15th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $0.10 annualized dividend and a yield of 0.6%.

About Northpointe Bancshares

Northpointe Bancshares, Inc operates as a bank holding company. It offers a nationwide mortgage purchase program, residential mortgage loans, digital deposit banking to retail customers and custodial deposit services. The company was founded by Charles A. Williams in 1998 and is headquartered in Grand Rapids, MI.